According to current forecasts by the International Monetary Fund (IMF), the global economy should be able to handle the consequences of the corona pandemic somewhat better than has been feared. In its eagerly awaited global economic outlook for this year, the IMF now expects global economic output to decline by only 4.4 per cent. The IMF has thus adjusted its last forecast from June by 0.5 percentage points.
In the midst of the corona crisis, following the first TV debate and US president Donald Trump’s infection with the corona virus, the race for the US presidential office enters its critical phase. In nationwide opinion polls, Democratic candidate Joe Biden is currently ahead of Republican incumbent Trump.
Japan officially entered a new era on Wednesday: As was expected, Japan’s new head of government Yoshihide Suga was elected Prime Minister by the majority of his Liberal Democratic Party (LDP), succeeding Shinzo Abe.
US President Donald Trump has escalated his fight against the Chinese-owned social media services TikTok and WeChat, and in the process also caused new tensions in the trade dispute with China.
The pharmaceutical companies and universities racing to develop a corona vaccine are making strides: according to the World Health Organisation (WHO), 25 candidates are currently undergoing clinical trials.
Despite the recent border openings, the corona pandemic continues to impact the aviation industry.
With the opening of many European countries’ borders, the travel industry, which has been severely affected by the response measures to the coronavirus pandemic, is also hoping for a revival of travel and tourism, which has virtually come to a standstill.
Germany’s government wants to cushion the consequences of the Corona crisis with a massive economic stimulus package. This show of strength is intended to revive the economy and consumption of citizens and avert a severe recession.
The Corona crisis has also caused the automotive industry to suffer a sharp drop in sales. The sharpest drop in new registrations was recorded in Italy and Spain. China provides a glimmer of hope.
The European Central Bank (ECB) wants to stick to its bond purchases despite the recent ruling by the German constitutional court. “We will continue to do whatever is necessary to fulfill this mandate,” said ECB chief Christine Lagarde.
